Retire in Dubai. How to Get a Dubai Retirement Visa

The “Retire in Dubai” program is an attractive option for foreign retirees seeking long-term residence in the Emirates. It allows individuals to obtain a UAE retirement visa starting from age 55, provided they meet certain financial requirements, such as owning property, having savings, or receiving a fixed income.

The Dubai retirement visa offers several benefits, including access to modern healthcare services, comfortable living conditions, high security, and a well-developed infrastructure. From the country's perspective, it gains stable economic investments as retirees contribute by investing in real estate, utilizing services, and using the local infrastructure.

In this article, we will explore the program's main benefits and features and provide a step-by-step guide on how to retire in Dubai.

Dubai Pension Benefits

The “Retire in Dubai” program was launched in September 2020 by the Dubai government in collaboration with the Department of Tourism and Commerce Marketing (DTCM). The program's main goal is to attract foreign nationals over 55 who wish to obtain residency in Dubai. It has become part of the UAE's strategy to diversify its economy and reduce dependency on oil revenues — it insures a steady flow of foreign investment through property purchases and healthcare and tourism services.

Pension in the UAE

It is important to note that the “Retire in Dubai” program has no connection to the pension system in the United Arab Emirates. The state pension program only covers UAE citizens aged 60 and above with at least 15 years of employment. Early retirement is possible at 55 years (50 years for women) with a minimum of 20 years of work experience.

Expats do not have access to the Dubai pension scheme. Instead, they typically receive an “end-of-service gratuity,” calculated based on labor laws. In this case, the retirement age in the UAE for expats is typically 60–65 years.

The lack of pension benefits for foreigners explains why there seem to be no elderly people in Dubai at first glance. The local population retires relatively early, while most foreigners in the country are of working age, typically between 25 and 40.

Dubai Retirement Visa Requirements

The Dubai retirement visa is issued for up to five years and is available to UAE residents and foreign nationals. It is accessible to individuals aged 55 and older. Although the official website mentions 15 years of work experience as an additional criterion, this is rarely enforced in practice. Instead, the primary requirements are age and sufficient financial means. The “Retire in Dubai” program offers flexibility in financial criteria, and applicants need to meet only one of the following conditions:

• Monthly income must be at least 15,000 AED ($4100) and 180,000 AED ($49,000) per year. Nationwide, the requirement is at least 20,000 AED ($5445) per month or 240,000 AED ($65,345) per year.
• A minimum of 1 million AED ($272,260) must be held in a fixed deposit account for three years in a UAE bank.
• Ownership of real estate in Dubai valued at least 1 million AED ($272,260). If the property is mortgaged, the remaining payments must be at least 1 million AED at the time of application.
• A combination of savings and real estate with a total value of at least 1 million AED ($272,260), where each component (savings and property) is valued at no less than 500,000 AED ($136,130).

Dubai Retirement Visa Cost

The main costs of obtaining a retirement visa include the visa fee, resident ID processing, and medical examination. Additionally, it is crucial to factor in the cost of health insurance, which can vary significantly depending on the applicant's age and health condition, especially for those over 60.

Dubai retirement visa cost:

If a retiree plans to bring family members (spouse, children, parents) with them, a Parent Visa will be required for the applicant's parents, costing 6822 AED ($1857) per person. Visas for a spouse and children will be the same price for the primary applicant, amounting to 3715 AED ($1011) per person.

Health insurance costs vary based on the applicant's age and health condition, particularly if they are over 60. The total insurance cost of a retirement visa in Dubai starts at 5000 AED ($1361) and can go up to 20,000 AED ($5445), depending on the coverage package chosen.

Investment Pitfalls in Real Estate

The Dubai retirement visa requirements include property owners holding assets worth at least 1 million AED ($272,500). However, property values can fluctuate due to market conditions. A drop in property value below the established threshold could result in the inability to renew the retirement visa, as this violates one of the program's key conditions. If other criteria (such as sufficient savings or stable income) are unmet, the resident risks losing their right to stay in the UAE.

Influencing factors:

• Market conditions change. Property prices may decrease due to market crises, oversupply, or changes in the UAE's economic situation. For instance, in 2020–2021, the Dubai market experienced a sharp decline in housing prices due to the pandemic and economic uncertainty.
• Quality of property management. Issues with the developer can negatively impact the property's final value and cause problems with the Dubai pension for expats.

If the property's value falls, additional investments can be made in purchasing another property, bringing the total capital back to 1 million AED.

How to Apply for a Dubai Retirement Visa

Financial documents that confirm the required level of investment are essential to participating in the “Retire in Dubai” scheme. In the case of real estate, this includes documents proving property ownership (title deed).

For a bank deposit, a bank statement is required to confirm savings of at least 1 million AED ($272,260), along with a letter from the bank stating that these funds can be used for living expenses in the UAE.

Adequate income for obtaining a Dubai retirement residency can be verified with an employment certificate, a pension certificate, or an income statement. A rental agreement can also be provided if additional income from rental properties besides pension payments is provided.

Required Documents:

• Passport. The original and copy of a passport must be valid for at least six months from the date of application. Ensuring the passport has blank pages for the visa stamp is important.
• Photographs. Two passport-sized photos (3.5 x 4.5 cm) taken within the last six months on a white background.
• Health insurance. The applicant must have a valid health insurance policy in the UAE. The policy must cover basic medical services and be issued in the applicant's name.
• Medical certificate. An official certificate from a licensed medical institution confirming satisfactory health and the absence of infectious diseases. A medical examination may be required.

Steps to obtain a retirement visa:

1. Document collection and preparation.
2. Application submission. You can submit the application online through the official immigration website (GDRFA), where you can fill out the online form. You can also apply through specialized agencies.
3. Payment of fees. Keep all receipts and payment confirmations, preferably for the entire visa validity period.
4. Application processing. The processing time can take two to four weeks, and the status can be tracked through the GDRFA website. During this period, immigration authorities may request additional documents from the applicant.
5. Visa issuance. Once approved, the applicant will receive a notification about the visa issuance. It should be printed and kept for activation upon entry.
6. Registration in the healthcare system. After receiving the visa, it is necessary to register in the UAE healthcare system and obtain health insurance.
7. Moving to Dubai. If the visa is issued outside the UAE, it will be activated upon entry. After crossing the border, immigration officers will stamp the passport, confirming entry.

It is important to note that you must apply for an Emirates ID after obtaining a retirement visa. Without this document, obtaining a driver's license, renting a property, or connecting utilities is impossible. The Federal Authority issues it for Identity and Citizenship (ICA), which is mandatory for all country residents, including children. To receive it, you need to undergo biometrics (fingerprinting and photographing).